November 09, 2006 09:00 ET

Namex Completes 8 Diamond Drill Holes on its Sudbury Area Properties.

TORONTO, ONTARIO--(CCNMatthews - Nov. 9, 2006) - Namex (TSX VENTURE:NME) is pleased to announce that it has completed 1,985 metres of diamond drilling to test three first priority targets as identified from its recently completed technical report.

Two holes were drilled to test a high intensity magnetic and electromagnetic anomaly at Fraser Lake, on the Golden Pine property. Drilling encountered highly brecciated banded iron formation, with pyrite and calcite veinlets and some rocks best described as Sudbury breccia. Namex was targeting iron formation hosted gold mineralization common to Archean volcanic belts, such as the Geraldton-Longlac, Central Patricia and Pickle Crow mines in northwestern Ontario. The proximity of this anomaly to the Sudbury meteorite impact event was particularly compelling.

On the Golden Pine East, Namex drilled four holes totaling 477 metres. All holes were drilled from a singular location to try and determine the strike, dip and extension to depth of the A-1 surface gold showing. Two of these holes also tested high priority IP targets along the contact between Huronian sediments on the north and felsic meta-volcanics to the south. Historical surface channel sample returned a 7.22 foot width (2.2m) running 1.302 ounces gold/ton (44.64 g/t). The main gold mineralization here reportedly occurs as microscopic grains not visible in hand specimen. Although gold mineralization appears to be associated with sulphides and quartz veining no distinction is possible in hand specimen or drill core between barren and mineralized rock. Fine disseminated sulphides have been noted occurring sporadically in the core in all four holes, however, logging and sampling is presently on going.

The third area of drilling was on the Post Creek property, to test two priority IP anomalies along the projection of the Whistle Offset. Two holes totaling 775 metres tested Quantitative Section anomalies identified by Matrix GeoTechnologies. The holes encountered extensive zones of brecciated rock. The detailed core logging of these holes will need to be completed (and possibly petrographic analyses) to determine if these sections may be Sudbury or footwall breccias.

Complete assay results are expected by year end.

Oliver T. Maki, P.Geo, a qualified person, is responsible for the technical content of this news release.

Namex is a Canadian junior that actively explores for platinum group metals, nickel, copper, gold, silver, zinc and lead exclusively in North America. For further information, see Namex's due diligence site:

This release was prepared by the Company's management who take full responsibility for its contents. Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. The company disclaims any obligation to update forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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